Bid fund boost a welcome contribution to recovery but short-term risks remain

The Business Events Council of Australia (BECA) welcomed yesterday’s announcement of the extension of the Bid Fund Program by $3 million for an additional 12 months through 2021/22.

BECA stated that while the long-term prospects for the industry are improving, the short-term needs and challenges being faced by the business events sector continue to be critical.

“With the Business Events Grant Program focused on supporting those who were attending business events already booked rather than de-risking the environment so more business event owners could plan, book and hold more events, the industry is in dire need of bridging support that will sustain businesses up and down the business events supply chain, event professionals and valuable expertise until business returns to a more robust level across the nation,” BECA stated.

BECA Chair Dr Vanessa Findlay said Tourism Australia’s continued commitment to the recovery of the business events sector both in the short and long-term “is greatly valued”.

“The very nature of business events and the time that is required to plan, market, implement and deliver events, means the approach to the industry’s recovery needs to be handled differently to other sectors or industries,” she said.

“Given the operating environment the industry is working in, without immediate support from the Government, we are now at serious risk of losing valuable organisations and event professionals.

“BECA has presented short term initiatives for the Government’s consideration to assist in the forthcoming critical six to 12 month period as well as look at more long term rebound strategies. It is vital this industry be sustained to ensure it can once again deliver on the significant economic and social contribution business events make to our country.”